A most exciting audited account:(QUOTE)
In its audit report, Chemeq’s auditor Ernst & Young states that it is “unable to verify whether it is probable that economic benefits associated with sales of goods disclosed in the company and consolidated income statement in the sum of $1,470,000 will be realised.” Ernst & Young also state that “ THE COMPANY AND CONSOLIDATED ENTITY WOULD BE IN DEFAULT OF ONE OF THE MILESTONE COVENANTS UNDER AGREEMENTS WITH BOND HOLDERS.”
And why are the top shareholders selling?
ANZ Nominees from 24million to 17 million and still selling?
Mr Barnett who resigned as director in Nov 05 and a top 5 shareholder sold his shares.
Mr Graeme Major is selling while he preaches how bright CMQ future is.
Why are there no ASX disclosure on the sales?
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